Global private markets manager AlpInvest Partners has led a consortium of investors, including Singaporean sovereign wealth fund GIC, in a US$450 million stapled secondary investment for Southeast Asia-focused private equity fund manager Southern Capital. The investment will primarily be used to acquire stakes in Southern Capital’s Mulberry Asia Fund II, which closed in 2009 with US$300 million in capital commitments and targeted buyout opportunities in China and Southeast Asia. The consortium’s investment also includes a US$80 million stapled commitment to Southern Capital Fund IV, which is currently seeking a total of US$500 million in capital commitments.